Portraying this as a sense of "owning" the street is unneccessarily perjorative, IMHO. I don't think that many people would argue with the idea that, all else being equal, having less traffic on the street in front of your house is a good thing. Less noise, less polution, less risk of pets and children getting hit by cars. So it shouldn't be surprising that people dislike it when traffic in front of their houses increases, and I also think it's pretty uncharitable to assume that this is because they're NIMBYs or otherwise have bad motivations.

In the broader sense, I think this relates to the tragedy of the commons. There are certain societal conventions that tend to make life better on the whole. Keeping traffic to main streets is one of them. Yes, I might gain a minute or two by cutting through your neighborhood, and you might make up a little time cutting through mine. But I don't take that shortcut, because I know it's determintal to the neighborhood and my benefit will be very small. Part of that comes with the expectation that others will in turn do the same for me.

Maybe this is a USAian way of thinking, but I believe that if everyone behaves in the most selfish possible way ("you don't own the street, so you don't get to complain if I use it to save 15 seconds"), life becomes worse for everyone.